PIDA approves nearly $2M in loans for infrastructure projects in four counties

The Pennsylvania Industrial Development Authority (PIDA) recently awarded nearly $2 million in low-interest loans to four projects in Bucks, Montgomery, and Westmoreland counties.

Lenape Real Estate Partners, LLC, through Bucks County Economic Development Corp., was approved for a $423,000 loan. Funding will be used to purchase and renovate a 14,705-square-foot multitenant building in Upper Southampton Township.

The building is 8,344 square feet of light manufacturing and warehouse space, 6,361 square feet of office space and condominiums. The company plans to update the entrance and add new bathrooms on the first and second floors and two large overhead doors to improve access to the building.

Wearforce North America, LLC, through Bucks County Economic Development Corp., was approved for a $420,000 loan for the purchase of a 22,485-square-foot building in Quakertown Borough. The new building will allow the company to add office and warehouse space.

Edon Composites, LLC, through Bucks County Economic Development Corp. in Montgomery County, was approved for $1 million to purchase a 58,810-square-foot building on 4.7 acres in Horsham Township. The company has been leasing the building.

K Castings, Inc., through Economic Growth Connection of Westmoreland in Westmoreland County, was approved for $123,424 to replace two 60-year-old melting furnaces.